The government is betting that the import taxes and preferential exchange rate brought in on Monday will have a low impact on inflation. This was reflected in the wholesale prices of imported goods, which rose by 55 points above the official exchange rate over the past year. Sources from several business chambers confirmed that the official dollar rate is losing its status as a point of reference for transactions and restocking merchandise. Only half (52%) answered that they use the official exchange rate, while almost one in three revealed that they use a different rate: 17% the blue dollar, 8% “an intermediate dollar according to my own criteria” and 3% use the MEP or the CCL dollars. They cited the imported wholesale price index, which in the last year rose 158%, against a 103% increase in the official exchange rate — a difference of 55 points.

Source: Bueno Aires Herald July 25, 2023 13:57 UTC